Month: June 2011

In last months’ Canadian Lawyer Magazine, Warren Porter, owner of Iron Gate Private Wine Management, wrote about wine as a liquid asset. When a wine collector dies, teh collection can be very valuable, and if the collection is not specifically dealt with in the Will, the issue becomes: how does an estate trustee realize this value for the beneficiaries?

Trusts are balancing acts. The balance is especially challenging when there is a mixture of family and charitable beneficiaries that occurs with certain testamentary trusts. The classic scenario is a testamentary charitable remainder trust. A spouse is income and capital beneficiary for life and one or more charities receive the remainder interest.

The freezing of current share value so that your chosen successors can easily participate in the future growth of your enterprise is a common estate planning technique. What if the value of the frozen shares now exceeds the value of the enterprise as a whole?

While in my last few blogs I’ve focused on knowing when your will plan isn’t simple, today I’ve asked my partner, David Fox to blog on a recent development in the fairness provisions applied by Canada Revenue Agency. David is a partner in our Tax group. He brings to your attention what practitioners consider to be a welcome clarification of the fairness provisions available to taxpayers who may owe interest in respect of income taxes owing from tax years ten or more years old. What follows comes to you from David…

By Audrey MillercloseAuthor: Audrey MillerName: Audrey MillerEmail: amiller@eldercaring.caSite:http://www.eldercaring.caAbout: Email: amiller@eldercaring.ca
About: Audrey Miller, Managing Director of Elder Caring Inc. has over 25 years social work and rehabilitation experience working with older individuals and their families. She advises the financial, insurance, legal and business communities regarding elder care issues. Audrey is a recognized expert in her field.See Authors Posts (197) •
June 22, 2011

Second marriages can be a source of conflict between adult children and the step parent. But does it have to be?

Capacity is a legal construct, and while screening tests developed based on medical parameters may provide red flags or indications of cognitive impairment, they are not definitive tests of incapacity.

“The role of an estate trustee can really be a thankless task”. So ended Justin’s blog on June 20th. The fact there is now an insurance product available to protect estate trustees in the event they are successfully sued by a disgruntled beneficiary only underscores this truism.

By Justin de VriescloseAuthor: Justin de VriesName: Justin de VriesEmail: jdevries@devrieslitigation.comSite:http://www.devrieslitigation.comAbout: Justin has been consistently named as one of the Best Lawyers in Canada/Trusts & Estates. He is an accomplished litigator who has appeared before all levels of the Ontario Court & the Federal Court of Canada. Justin's areas of expertise include: estate, trust, and capacity litigation, as well as probate applications and estate administration. He regularly speaks on estate, trust and capacity issues.
Email: jdevries@devrieslitigation.comSee Authors Posts (35) •
June 20, 2011

What happens when an estate trustee distributes money to the wrong beneficiary or distributes the wrong amount?